U.S. plans new trade pact with ‘like-minded partners,’ says senior official

• The US will launch a new trade deal in the Americas focused on “like-minded countries” with existing free trade accords.
• Washington will utilise the new Americas Partnership for Economic Prosperity
•  Set new customs, digital trade, labour, environmental, and corporate accountability norms.

According to a senior Biden administration official, the Biden administration will advance its competitive ambitions against China by launching a new trade deal in the Americas focused on “like-minded countries” with existing free trade accords.

Despite the absence of any fresh tariff relief for participating countries, Washington will utilise the new Americas Partnership for Economic Prosperity to set new customs, digital trade, labour, environmental, and corporate accountability norms. Negotiations are expected to begin in the early fall, according to the official.

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